[According to the PRMIA study guide for Exam 1, Simple Exotics and Convertible Bonds have...

an option in which the buyer of the option has the option to extend the expiry of the option upon the payment of an extra premium

an option whose expiry is automatically extended if it finishes out of the money.

an option in which the holder of the option has the right to reset the strike price to be at-the-money once during the life of the option

an option which kicks in as a plain vanilla option if the underlying hits an agreed threshold